How did the Brexit affect Vietnam?

News of Brexit also wiped more than US $1 billion from Vietnam stock market with 500 Vietnamese stocks dropping and 1.9 percent off VN-Index at closing on June 24th, as bearish sentiment dominated for both local and foreign investors.

How will Brexit affect the travel industry?

Brexit may affect thousands of workers that are hired for seasonal or permanent positions in the tourism sector. After Brexit, not only may they have to go through long bureaucratic procedures in order to earn money in the UK, but local tourism businesses may have to incur in costs relative to hiring foreign staff.

Does the EU have a trade deal with Vietnam?

On 8 June 2020, Vietnam’s National Assembly ratified the EU – Vietnam Free Trade Agreement (EVFTA) and Investment Protection Agreement (EVIPA) following almost 10 years of negotiations. On 12 February 2020, the European Parliament gave it consent to the ratification of the EVFTA and EVIPA.

How does leaving the EU affect travel?

You’ll be able to stay for up to 90 days in any 180-day period. You could make a 90-day trip to any of them and still not use up your 90-day allowance for other EU countries. You may need a visa or permit to stay for longer, to work or study, or for business travel.

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What Brexit might mean for UK travel?

A Brexit could lead to a period of uncertainty before a new set of trading relations and regulations were in place. The value of the sterling and the cost of travelling could be impacted in the event of a Brexit. The travel and tourism sectors employ a significant number of immigrants.

Is Vietnam duty free to Europe?

The FTA will eliminate nearly all tariffs (over 99%): Vietnam will liberalise 65% of import duties on EU exports to Vietnam at entry into force, with the remainder of duties being gradually eliminated over a 10-year period. EU duties will be eliminated over a 7-year period.

Is it good to invest in Vietnam?

With its low labor costs and a stable yet growing economy, Vietnam is a more cost-effective alternative to China. Many investors are looking into setting up manufacturing companies in Vietnam. Other investors, meanwhile, are moving manufacturing from China to Vietnam.

Is Vietnam a part of the EU?

Vietnam is the EU’s 15th trade in goods partner and the EU’s largest trading partner in the Association of Southeast Asian Nations (ASEAN) in 2020. The EU’s main exports to Vietnam are high tech products, including electrical machinery and equipment, aircraft, vehicles, and pharmaceutical products.

Will flights get more expensive after Brexit?

Brexit could have an indirect impact on the price of the flights, because of the weak pound. This means that the cost of oil will be more, meaning airlines pay more for fuel and this may be passed on to customers through higher ticket prices. What is likely to affect British travellers more is costs abroad.

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Can I go on holiday to Europe after Brexit?

No. The recent agreement between the UK and the EU has allowed for visa-free travel for short visits – up to 90 days in any 180-day period (excluding any trips to Ireland, Croatia, Bulgaria and other non-Schengen states, for which there’s no limit on the length of trip ).

Can I still use my EU passport after Brexit?

Is my EU /UK passport still valid after Brexit? UK passport holders will be able to travel to the EU /EFTA on their passport as long as it is less than 10 years old and has at least six months left on its expiry date. That includes the burgundy EU /UK passports and the new blue UK passports.

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